Botanix has announced it has now closed the first tranche of its anticipated $7.5 million placement to new and existing institutional and sophisticated investors.
The second tranche of the Placement is an issue of New Shares to Botanix directors, who have committed to subscribe for a total of $0.5 million of New Shares, which is subject to shareholder approval.
Botanix has today announced it has received strong commitments to raise $7.5m through a placement to Australian and international institutions and sophisticated investors.
Funds will support the development of the Company’s lead asset – Sofpironium Bromide (SB) – a novel dermatology asset with positive Phase 3 data to treat primary axillary hyperhidrosis, a medical condition which results in excessive underarm sweating.
This will include support for the FDA approval process and preparation for commercial launch. The New Drug Approval (NDA) filing with the FDA remains on track for submission this quarter with a 12-month review process.
Botanix (ASX:BOT) is pleased to advise that leading adviser Euroz Hartleys has released an analysis outlining the strong market opportunities for our most recent asset acquisition, Sofpironium Bromide.
Within the report, analyst Seth Lizee commented:
“Sofpironium Bromide’s target patient population is estimated to be ~3.7 million people in the United States, equal to the estimated number of patients with severe axillary hyperhidrosis seeking treatment…Even modest market penetration can translate into significant revenues.”
Botanix (ASX:BOT) is pleased to share a research report from leading stockbroking firm, Euroz Hartleys, following the release of the Company announcement that the FDA filing timeline for Sofpironium Bromide had been accelerated.
Botanix has today announced the New Drug Approval (NDA) submission to the FDA for our recently acquired dermatology asset, Sofpironium Bromide for the treatment of excessive underarm sweating, will now be ready to file in Q3 2022.
The Company also provided an update on its pipeline clinical studies. Both the rosacea (BTX1702) Phase 1/2 clinical study and the canine dermatitis (BTX 1204A) pilot study have reached target enrolment numbers, and subjects will be completing their treatments over the coming weeks. Outcomes for these two studies are expected later in the year.
Botanix (ASX:BOT) is pleased to share a research report from leading stockbroking firm, Euroz Hartleys, following the acquisition of our dermatology asset Sofpironium Bromide.
🗞 MAKING HEADLINES
Herald Sun Reporter, Owen Leonard, met with Botanix executives while they were in Australia this week and has published a story about the Company’s recent acquisition of Sofpironium Bromide.
This novel potential treatment for primary axillary hyperhidrosis, a medical condition that results in excessive underarm sweat, is bringing new hope for sufferers.
Botanix Executive Director, Matthew Callahan, explained why it could fill a market gap:
“At the moment, to treat it, you’ve got a couple of options. You’ve got antiperspirants – covers up the smell but does nothing to actually have an effect on the excessive sweating – and at the other extreme, you’ve got surgery, where they’ll actually go in and cut the nerve to stop the signals getting to the sweat gland to stop you sweating excessively.
“In between, there’s been a lot of drugs that have been around for decades that don’t work very well and have all sorts of nasty side effects.”
Botanix (ASX:BOT) is pleased to share a research report from leading stockbroking firm, Euroz Hartleys, following the Company’s recent acquisition of Sofpironium Bromide.
The deal has been called a “transformational acquisition”.
Botanix (ASX:BOT) is pleased to share a Quick Comment research report from leading stockbroking firm, Euroz Hartleys, following the acquisition of our dermatology asset Sofpironium Bromide.
Botanix Pharmaceuticals (ASX: BOT) hosted an investor update webinar following the announcement of its acquisition of Sofpironium Bromide, the first and only novel treatment for primary axillary hyperhidrosis. Present on the call was President and Executive Chairman, Vince Ippolito; Executive Director, Matt Callahan; Chief Medical Adviser, Dr Patricia Walker; and Chief Commercial Officer, Howie McKibbon.
